Shares of online music, software and movie retailer Navarre, have had a nice run up after trading at less than $12 early this week. The stock has gotten a boost from Yahoo!’s purchase of Broadcast.com. In addition to running an online store, Navarre owns a majority stake of online music, news and sports broadcaster NetRadio.
The Broadcast.com deal means that streaming media companies are in favor on Wall Street, and investing in Navarre right now could be a smart move. Last month, NetRadio filed for an initial public offering to raise as much as $37.4 million. Shares of Navarre were up 1-7/16 to 15-3/8 on Thursday.